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Part and parcel of building scaled servicing and assetmanagement businesses was to ensure our credit risk in those portfolios was minimal due to the conservative underwriting and taking credit risk solely on multifamily properties. They are well behind, but they aren't losing dealflow to other capital sources.
Michele Reber -- Senior Director, AssetManagement Thank you and good morning. Do you see that going forward of continuing to bridge that gap in the capital markets, or is there another color that you are seeing in the dealflow? [Operator instructions] As a reminder, this conference is being recorded. You may begin.
Our team's continued efforts to create value and identify these opportunities combined with our improved cost of capital have opened up a larger opportunity set and resulted in accelerated dealflow. Both of these noncore dispositions were Florida based assets, which continued to command a strong bid from 1031 capital.
BlackRock is the only assetmanager that can partner in this way, having the most diverse, integrated investment and technology platform in the industry. BlackRock has invested ahead of these themes, we believe will define the next decade of assetmanagement. I want you to think about it this way.
Matt Frankel has positions in Amazon, Brookfield AssetManagement, PayPal, Simon Property Group, and Walker & Dunlop. Then the final one is office. Office is the one that a lot of people are scratching their head about what's the solve for B and C class office? calls on PayPal.
We held our team together throughout the downturn to be able to capture dealflow when markets returned and our investment sales team's efforts in the back half of 2024 were fantastic and set us up very well for 2025 and beyond. For the full year, our property sales team sold $9.8 billion of properties in the first half of the year.
Puffer joined AIMCo in 2023 from Canada’s railway pension fund CN Investment Division and was part of a new management team put in place to shore up governance at the assetmanager after 2020 losses. AIMCo managesassets for 17 pension funds and organizations, a more complex job than overseeing one single pool of capital.
In September last year, after analysing performance and dealflow, Berg decided to switch to fund investing in Asia and Europe and to focus on buyouts in North America. OMERS, like many, has taken a hit with the repricing of assets but Berg believes the lions share of the adjustment has taken place.
I was working directly with the CEO and president of both companies, but I realized that the biotech vertical was not my playing field for the long term, hence the NBA at Harvard to find another career path and, and that led me into assetmanagement. When it comes to any assetmanagement business, Barry, two things important.
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